EDC partners IEI to create curriculum for SMEs, MSMEs on risk management, insurance

The Enterprise Development Centre (EDC) has entered into a strategic partnership with International Energy Insurance (IEI).

The collaboration focuses on developing a comprehensive curriculum and providing specialized training on Risk Management and Insurance, as well as creating detailed case studies for real-world application.

Additionally, IEI sponsored the rebranding of EDC studio, enhancing its resources to better serve and enhance its facilities for the benefit of SMEs. This newly upgraded studio, according to a statement will serve as a hub for interactive learning and professional development.

According to Olawale Anifowose, Director, Programme and Partnership Enterprise Development Centre, Pan-Atlantic University, “This partnership signifies a significant step towards empowering SMEs with essential knowledge and tools to navigate risks and secure their future. EDC and IEI are committed to fostering a robust support system for small and medium enterprises through this innovative educational initiative.”

Speaking further, Anifowose said, “I think this is a very welcome partnership and initiative with International Energy Insurance. As far back as 4 years ago, when we had the ENDSARS protest in Lagos states, I believe that that period was an eye-opener for many businesses because during those protests, many businesses were destroyed and the data is out there that showed that a large number of those businesses that had their stores, properties, and business destroyed were not insured.”

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“It was that period that the Enterprise Development Center took it upon itself to ensure that we deepen our relationship with an insurance company that has a clear product and clear strategy for how small businesses can welcome and start to embrace risk management strategies that can help them to get back on their feet whenever there is a mishap.”

Enlightening some prospective SMEs, Olasupo Sogelola, Managing Director/CEO, International Energy Insurance (IEI), said study has shown that over 59.1 million Nigerians work in small and medium enterprises sand micro, small and medium enterprises organisations in the country and over 41 million SMEs and MSMEs have been registered, therefore, it is a viable sector to look after.

‘Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extended to the Clear Pay Microfinance Bank, our sister organisation providing funding support to them.

“We are, indeed, very excited by the opportunity this partnership has thrown up because several SMEs would not be bothering themselves about the risks that are associated with running day-to-day operations in Nigeria.”